FEDERAL RESERVE Statistical Release H.4.1 Factors Affecting Reserve Balances of Depository Institutions and Condition Statement of Federal Reserve Banks January 10, 2008 1. Factors Affecting Reserve Balances of Depository Institutions Millions of dollars Averages of daily figures Reserve Bank credit, related items, and Week ended Change from week ended Wednesday reserve balances of depository institutions at Jan 9, 2008 Jan 2, 2008 Jan 10, 2007 Jan 9, 2008 Federal Reserve Banks Reserve Bank Credit 869,212 - 22,531 + 24,583 866,171 Securities held outright 728,182 - 12,429 - 50,720 728,203 U.S. Treasury (1) 728,182 - 12,429 - 50,720 728,203 Bills (2) 215,360 - 12,481 - 61,659 215,360 Notes and bonds, nominal (2) 470,984 0 + 3,120 470,984 Notes and bonds, inflation-indexed (2) 36,911 0 + 6,806 36,911 Inflation compensation (3) 4,928 + 52 + 1,013 4,948 Federal agency (2) 0 0 0 0 Repurchase agreements(4) 33,036 - 6,714 + 6,465 30,500 Term auction credit 40,000 0 + 40,000 40,000 Other loans 1,517 - 4,270 + 1,478 1,015 Primary credit 1,512 - 4,258 + 1,490 1,010 Secondary credit 0 0 0 0 Seasonal credit 5 - 11 - 11 5 Float -724 + 293 - 462 -738 Other Federal Reserve assets 67,202 + 589 + 27,824 67,190 Gold stock 11,041 0 0 11,041 Special drawing rights certificate account 2,200 0 0 2,200 Treasury currency outstanding (5) 38,835 + 14 + 617 38,835 Total factors supplying reserve funds 921,288 - 22,518 + 25,201 918,247 Currency in circulation(5) 822,728 - 6,487 + 10,279 819,171 Reverse repurchase agreements (6) 39,055 - 2,818 + 9,396 37,773 Foreign official and international accounts 39,055 - 2,818 + 9,396 37,773 Dealers 0 0 0 0 Treasury cash holdings 264 + 5 + 3 270 Deposits with F.R.Banks, other than reserve balances 12,142 - 3,964 + 74 12,320 U.S. Treasury, general account 5,146 - 3,547 + 349 5,363 Foreign official 102 + 5 + 12 98 Service-related 6,651 + 36 - 285 6,651 Required clearing balances 6,651 + 36 - 266 6,651 Adjustments to compensate for float 0 0 - 19 0 Other 243 - 458 - 2 209 Other liabilities and capital 42,878 - 331 + 6,412 42,477 Total factors, other than reserve balances, absorbing reserve funds 917,067 - 13,596 + 26,164 912,011 Reserve balances with Federal Reserve Banks 4,221 - 8,921 - 963 6,236 Memo (off-balance-sheet items): Marketable securities held in custody for foreign official and international accounts(2,7) 2,057,249 - 3,638 + 286,987 2,058,359 U.S. Treasury 1,231,838 + 997 + 63,988 1,233,183 Federal agency 825,411 - 4,635 + 222,999 825,176 Securities lent to dealers 9,686 - 6,818 + 6,579 4,976 Note: Components may not sum to totals because of rounding. 1 Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2 Face value of the securities. 3 Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4 Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5 Estimated. 6 Cash value of agreements, which are collateralized by U.S. Treasury securities. 7 Includes U.S. Treasury STRIPS and other zero coupon bonds at face value. Sources: Federal Reserve Banks and the U.S. Department of the Treasury. 2. Consolidated Statement of Condition of All Federal Reserve Banks Millions of Dollars Eliminations Change Since from Wednesday Wednesday Wednesday Assets, liabilities, and capital consolidation Jan 9, 2008 Jan 2, 2008 Jan 10, 2007 Assets Gold certificate account 11,037 0 0 Special drawing rights certificate account 2,200 0 0 Coin 1,202 + 33 + 337 Securities, repurchase agreements, term auction credit, and other loans 799,718 - 42,582 - 701 Securities held outright 728,203 - 12,424 - 50,695 U.S. Treasury (1) 728,203 - 12,424 - 50,695 Bills (2) 215,360 - 12,481 - 61,659 Notes and bonds, nominal (2) 470,984 0 + 3,120 Notes and bonds, inflation-indexed (2) 36,911 0 + 6,806 Inflation compensation (3) 4,948 + 56 + 1,037 Federal agency (2) 0 0 0 Repurchase agreements (4) 30,500 - 26,250 + 9,000 Term auction credit 40,000 0 + 40,000 Other loans 1,015 - 3,908 + 994 Items in process of collection (569) 2,647 + 497 - 2,157 Bank premises 2,132 - 2 + 188 Other assets (5) 65,064 + 353 + 27,645 Total assets (569) 883,999 - 41,702 + 25,310 Liabilities Federal Reserve notes, net of FR Bank holdings 781,803 - 9,881 + 8,857 Reverse repurchase agreements (6) 37,773 - 3,136 + 8,852 Deposits (0) 18,561 - 28,883 + 3,135 Depository institutions 12,892 - 26,877 + 2,785 U.S. Treasury, general account 5,363 - 1,914 + 364 Foreign official 98 0 + 7 Other (0) 209 - 93 - 21 Deferred availability cash items (569) 3,384 + 187 - 1,666 Other liabilities and accrued dividends (7) 5,054 - 195 - 464 Total liabilities (569) 846,576 - 41,908 + 18,715 Capital Accounts Capital paid in 18,459 + 13 + 3,128 Surplus 18,356 + 54 + 3,325 Other capital accounts 607 + 137 + 141 Total capital 37,422 + 205 + 6,594 Note: Components may not sum to totals because of rounding. 1 Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2 Face value of the securities. 3 Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities. 4 Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securites. 5 Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates. 6 Cash value of agreements, which are collateralized by U.S. Treasury securities. 7 Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. 3. Maturity Distribution of Term Auction Credit, Other Loans and Securities, January 9, 2008 Millions of dollars Term auction Other U.S. Treasury Reverse Remaining maturity credit loans securities (1) Repurchase repurchase Weekly agreements(2)agreements(2) Holdings changes Within 15 days 20,000 1,010 39,729 - 133 30,500 37,773 16 days to 90 days 20,000 5 137,196 - 6,521 0 0 91 days to 1 year ------ 0 144,703 - 5,823 ------ ------ Over 1 to 5 years ------ ------ 235,773 + 22 ------ ------ Over 5 to 10 years ------ ------ 81,960 + 10 ------ ------ Over 10 years ------ ------ 88,843 + 22 ------ ------ All 40,000 1,015 728,203 - 12,424 30,500 37,773 Note: Components may not sum to totals because of rounding. --- Not applicable. 1 Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 2 Cash value of agreements. 4. Statement of Condition of Each Federal Reserve Bank on January 9, 2008 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Assets Gold certificate account 11,037 449 4,053 455 428 869 1,117 903 326 203 335 613 1,286 Special drawing rights certificate acct. 2,200 115 874 83 104 147 166 212 71 30 66 98 234 Coin 1,202 35 53 88 114 142 157 139 50 48 74 134 166 Securities, repurchase agreements, term auction credit, and other loans 799,718 34,966 309,181 33,565 31,061 66,511 70,395 64,718 25,299 15,138 24,565 34,735 89,586 Securities held outright 728,203 33,560 263,680 32,216 29,800 63,093 67,539 61,079 23,274 14,529 23,573 31,995 83,864 U.S. Treasury (1) 728,203 33,560 263,680 32,216 29,800 63,093 67,539 61,079 23,274 14,529 23,573 31,995 83,864 Bills (2) 215,360 9,925 77,981 9,528 8,813 18,659 19,974 18,064 6,883 4,297 6,971 9,462 24,802 Notes and bonds(3) 512,843 23,635 185,699 22,688 20,987 44,434 47,565 43,016 16,391 10,232 16,601 22,533 59,062 Federal agency (2) 0 0 0 0 0 0 0 0 0 0 0 0 0 Repurchase agreements(4) 30,500 1,406 11,044 1,349 1,248 2,643 2,829 2,558 975 609 987 1,340 3,513 Term auction credit 40,000 0 33,957 0 12 775 25 1,080 1,050 0 0 1,400 1,701 Other loans 1,015 1 500 0 0 0 2 0 0 0 5 0 508 Items in process of collection 3,216 118 325 277 485 152 259 329 163 152 297 185 473 Bank premises 2,132 120 215 64 153 182 230 205 112 113 269 256 214 Other assets(5) 65,064 1,971 18,488 6,382 4,086 14,254 5,496 3,987 1,060 1,193 1,087 1,379 5,680 Interdistrict settlement account 0 - 158 -18,827 - 263 + 875 + 1,694 + 2,039 + 8,620 + 4,109 + 1,677 + 5,837 - 2,505 - 3,098 Total Assets 884,568 37,616 314,362 40,652 37,305 83,950 79,858 79,112 31,190 18,554 32,530 34,895 94,542 Note: Components may not sum to totals because of rounding. 1 Includes securities lent to dealers, which are fully collateralized by other U.S. Treasury securities. 2 Face value of the securities. 3 Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities. 4 Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities. 5 Includes assets denominated in foreign currencies, which are revalued daily at market exchange rates. 4. Statement of Condition of Each Federal Reserve Bank on January 9, 2008 Millions of dollars Kansas San Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis City Dallas Francisco Liabilities Federal Reserve notes outstanding 1,007,943 39,372 354,059 42,108 39,609 81,278 108,091 87,015 33,268 19,381 33,647 57,310 112,805 Less: notes held by F.R. Banks 226,140 6,351 73,757 8,083 8,040 14,543 36,464 14,503 4,215 2,993 3,619 25,921 27,653 Federal Reserve notes, net 781,803 33,021 280,303 34,026 31,569 66,735 71,626 72,513 29,053 16,388 30,027 31,390 85,152 Reverse repurchase agreements (1) 37,773 1,741 13,677 1,671 1,546 3,273 3,503 3,168 1,207 754 1,223 1,660 4,350 Deposits 18,561 432 8,904 438 862 3,090 972 1,038 278 245 444 642 1,217 Depository institutions 12,892 431 3,315 433 858 3,042 968 1,035 267 244 442 642 1,214 U.S. Treasury, general account 5,363 0 5,363 0 0 0 0 0 0 0 0 0 0 Foreign official 98 1 67 5 3 11 3 2 0 1 0 1 3 Other 209 0 159 0 1 37 0 0 11 0 1 0 0 Deferred availability cash items 3,953 181 83 655 548 311 379 311 85 318 258 217 608 Other liabilities and accrued dividends (2) 5,054 211 1,881 210 223 509 468 396 186 129 170 233 439 Total liabilities 847,145 35,586 304,849 37,000 34,748 73,919 76,948 77,426 30,809 17,833 32,121 34,142 91,766 Capital Capital paid in 18,459 1,049 4,619 1,814 1,291 4,996 1,431 816 180 355 194 364 1,350 Surplus 18,356 981 4,619 1,813 1,266 4,996 1,421 818 180 355 194 363 1,350 Other capital 607 0 276 25 0 39 58 52 21 12 21 26 76 Total liabilities and capital 884,568 37,616 314,362 40,652 37,305 83,950 79,858 79,112 31,190 18,554 32,530 34,895 94,542 Note: Components may not sum to totals because of rounding. 1 Cash value of agreements, which are collateralized by U.S. Treasury securities. 2 Includes exchange-translation account reflecting the daily revaluation at market exchange rates of foreign exchange commitments. 5. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts Millions of dollars Federal Reserve notes and collateral Wednesday Jan 9, 2008 Federal Reserve notes outstanding 1,007,943 Less: Notes held by F.R. Banks not subject to collateralization 226,140 Federal Reserve notes to be collateralized 781,803 Collateral held against Federal Reserve notes 781,803 Gold certificate account 11,037 Special drawing rights certificate account 2,200 U.S. Treasury and agency securities pledged (1) 720,876 Other assets pledged 47,691 Memo: Total U.S. Treasury and agency securities (1) 758,703 Less:face value of securities under reverse repurchase agreements 37,827 U.S. Treasury and agency securities eligible to be pledged 720,876 Note: Components may not sum to totals because of rounding. 1 Includes face value of U.S. Treasury and agency securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.